Québec publishes draft regulations for future of cap-and-trade program

On 31 August 2017, Québec published draft regulations that pave the way for future linking with Ontario, plot the cap trajectory for the period 2021-2030, and mimic changes recently made to the Californian system to ensure the ongoing compatibility of their joint market. The draft regulation includes revisions that would allow for the first third party auction between California, Québec and Ontario that is scheduled for February 2018. However, all three parties must sign a linking agreement before the link becomes operational.